The New York Times is reporting that, in fact, the deal isn't done. In fact, it might not happen, thanks at least in part to lobbying by Kentucky Sen. Mitch McConnell to get Louisville into the conference instead.

The Times is reporting that sources are saying it's "50-50" which of the schools gets into the conference.

From the Times report:

A Big 12 conference call Tuesday night was expected to be a formality on West Virginia’s road to admittance. Instead, objections were raised.

A late push by Louisville has put political pressure on the Big 12 and opened the possibility of Louisville’s being the university that is admitted instead of West Virginia. Two people with direct knowledge of the situation said that lobbying by the Senate minority leader, Mitch McConnell, Republican of Kentucky, including to David Boren, the president of the University of Oklahoma and a former senator, helped slow West Virginia’s admittance to the Big 12.